Avalanche: What’s Up With AVAX?! This Will Surprise You!!

One of the factors that determines how Well a cryptocurrency will fare during The bear Market is how much money the Project has raised post-ico Avalanche appears to hold the record in This regard and this means that avax Could be one of the few winners when Crypto winter ends However there is more to this story than Meets the eye that’s why today I’m going To give you a bit of background about Avalanche bring you up to speed on some Of the Project’s most important updates And analyze avax’s future potential [Music] Before we play in the crypto snow you Need to know a bit about this crypto bro Financial advice is not part of my flow Education and entertainment are the only Things I know please contact a financial Advisor for help with your crypto Portfolio if this is the first time you Hear my words my name is guy and crypto Is what I confer my mission is to make High quality crypto content that will Help you learn Coins tokens news reviews packed with Facts and stats you’ve never heard if This sounds superb subscribe to the Channel and ping that notification Bell To Join the Herd so now that I know no Lines will be blurred let me tell you About Avalanche and what I have observed If you’re unfamiliar with Avalanche

Here’s what you need to know Avalanche was founded in 2018 by Cornell Professor and computer scientist Emin Gunsera Avalanche was built by avalabs a Software company based in the United States avalanche’s development is Coordinated by the Avalanche Foundation A non-profit based in Singapore Avalanche raised roughly 60 million Dollars across various icos in 2019 and 2020 and has since raised hundreds of Millions more from various crypto VCS More on that in a moment The Avalanche main net went live in September 2020 and the project is still Technically in development though all Its core features and functionalities Are fully operational In contrast to other cryptocurrencies The Avalanche Network consists of three Different blockchains that are secured By the same set of validators The first blockchain is called The Exchange chain or X chain it features a Proof-of-stake dag that uses the Avalanche consensus protocol and Leverages the Avalanche virtual machine For smart contracts the xchange’s Purpose is to produce Avalanche native Tokens or ants and it can process Roughly 4 500 transactions per second The second blockchain is called the Platform chain or p-chain it features a

Standard proof of stake blockchain that Uses the Snowman consensus protocol the P-chain’s purpose is to coordinate Avalanche validators and allow for the Creation of custom blockchains called Subnets The P chain can process roughly 1500 Transactions per second Now the third blockchain is called the Contract chain or C chain it likewise Features a standard proof-of-stake Blockchain that uses the Snowman Consensus protocol and leverages an Improved version of the ethereum virtual Machine for smart contracts The C Chain’s purpose is to power all The decentralized applications on Avalanche and it can likewise process Around 1500 transactions per second Avalanche’s three blockchains are Currently secured by a set of nearly 1400 validators Each of which must take A minimum of two thousand avex and lock It up for 14 days in order to process Transactions delegation is possible and Avalanche currently has nearly 20 000 Delegators Each of which must take a Minimum of 25 avex This avax is also locked up for two Weeks there are no slashing risks for Validators nor delegators and staking Rewards are roughly nine percent for Both parties Now besides staking avex is used to pay

For transaction fees on the Avalanche Network all transaction fees are burned And over 1.8 million avex have been Burned so far Because transaction fees are burned Avalanche rewards validators with Inflation instead and 50 percent of Avex’s Maximum supply of 720 million has Been set aside for staking Rewards It is not clear exactly when these Staking rewards will run out but current Estimates are in the decades note that Most of the avacs allocated to the team And early investors will finish vesting In late 2024. In terms of adoption over 3 million Unique wallets have been created on Avalanche’s sea chain alone and close to Two dozen additional subnets are in Development According to the Avalanche ecosystem Website there are around 200 dapps Currently live on Avalanche with Hundreds more in development According to DAP radar Avalanche dapps Are seeing around 200 000 users every Month though it’s worth pointing out That there’s probably some overlap here According to defy Lama avalanche’s D5 Protocols currently hold around 3.5 Billion dollars in total value locked Avalanche’s growing ecosystem can Currently be accessed using the Avalanche web wallet and the metamask

Browser extension wallet in the case of The c-chain Now if you’re interested in exploring Avalanche’s ecosystem my Avalanche Tutorial is a great place to start and The link to that video will be in the Description Now it’s only been about four months Since I last covered Avalanche but a lot Has happened since then Shortly after my last Avalanche update Went live the project partnered with Terror to bring its UST stablecoin to D5 Protocols on the Avalanche blockchain Hold that thought It was also revealed that one of the Pseudonymous developers of a defy Protocol on Avalanche called Wonderland Turned out to be Michael Patron the Co-founder of quadriga CX If you watched our video about Netflix’s Documentary on quadrigo CX you’ll know Quadriga was the infamous Canadian Cryptocurrency exchange that lost access To its wallets containing millions in Crypto after its other co-founder died Under mysterious circumstances in India Or so The Story Goes Now as you can imagine Avalanche founder Emin gunsera wasn’t happy about this Revelation and appeared to be very Concerned about avalanche’s image in a Follow-up video update something that’s Warranted given that Avalanche had put

Wonderland in the spotlight at one of Its previous events Fortunately for Avalanche January ended On a positive note as Vanek announced The launch of an exchange traded product With exposure to avax and other popular Altcoins Unfortunately for Avalanche February Began with another flop and that was the 320 million dollar hack of Solana’s Wormhole Bridge which supported the Avalanche blockchain As you can imagine this initially Created Panic among holders of the coins And tokens belonging to the chains the Wormhole Bridge supported but it soon Became clear that the only affected Kryptos were Solana and ethereum Considering that Avalanche is arguably a Competitor to both Solana and ethereum It should come as no surprise that avex Became extremely popular with Institutional investors in the weeks That followed with over 100 million Dollars flowing into various Institutional investment vehicles The wirex payments app also announced That it had added support for the Avalanche blockchain making it easy for Wirex’s 4.5 million users to interact With avalanche’s expanding ecosystem In early March Avalanche made waves when The Avalanche Foundation announced a 290 Million dollar incentive fund which is

Quote focused on accelerating the Adoption and growth of avalanche’s Subnet functionality in many ways not Just the metaverse The FTX cryptocurrency exchange also Announced support for usdc on Avalanche Which is not that surprising given that Avax is one of FTX CEO’s Sam bankman Freed’s favorite cryptocurrencies On that note Emin mentioned in one of His weekly updates that he had actually Flown to the Bahamas to meet with Sam And let’s just say it’s one of the many Meetings they’ve had In mid-march mobile game maker Wildlife Studios announced that it had partnered With Avalanche to bring nfts to Castle Crush a mobile game with over 50 million Users on Android devices alone Avalanche Builder avalabs also announced That it had joined the blockchain Association one of the biggest if not The biggest crypto lobbying groups in The United States more about them in the Description At the end of March grayscale launched a Smart contract fund for ethereum Competitors with avex as the fourth Largest allocation though the fund has Only seen around four million dollars of Inflow so far and is down 50 percent The software arm of coinbase also Announced it had released developer Tools for Builders on the Avalanche

Blockchain making it easier for its Ecosystem to expand The real highlight at the end of March However was the Avalanche Summit Conference in Barcelona which reportedly Attracted over 3 500 attendees there was Of course no shortage of exciting Announcements made at the Avalanche Summit but the two most important were Probably the announcement that the Avalanche bridge will soon support Native BTC and that Avalanche developers Will finally be rolling out an improved Avalanche wallet nothing more on either Of those fronts yet I’m afraid Then in early April terraform labs and The lunar Foundation guard announced That they had acquired no less than 200 Million dollars worth of avex in his Weekly update shortly afterwards Emin Said that this was just the beginning of Avalanche and terra’s multi-billion Dollar partnership that the projects Were aligning their ecosystems and that He would personally buy UST if it Dropped below its Peg again keep this in Mind for later In mid-april are we’ve integrated with Avalanche making it possible for Avalanche users and developers to store Their on-chain data forever using our Weave’s novel storage solution full Disclosure I hold AR as part of my Personal portfolio and that’s because

It’s a seriously impressive project You can learn more about it using the Link in the description I digress Another big Avalanche announcement in Mid-april was that Ava Labs had raised a Whopping 350 million dollars from Various crypto VCS bringing avalanche’s Total post-ico funding up to almost 700 Million dollars At the end of April polygon announced That it would be allocating 100 million Dollars to the development of supernet Chains which sound eerily similar to Avalanche’s subnet and I don’t think That’s a coincidence Just goes to show that Avalanche is a Serious competitor A metaverse company called pocket worlds Also announced that it would be creating The first metaverse Subnet on Avalanche In early May Valkyrie announced the Launch of its Avalanche trust complete With 25 million dollars of initial Funding from institutional investors in The United States Now there was also the small matter of Terror’s collapse and if you remember What I told you to keep in mind it Should come as no surprise that Avalanche got caught up in the chaos if You still don’t understand what happened To Terra buckle up and check the link in The description Now besides the fact that large amounts

Of UST had found their way into Avalanche’s own D5 protocols terror’s Own anchor protocol had deployed on the Avalanche blockchain Not only that but terror’s Aforementioned purchase of 200 million Dollars worth of avex was actually a Swap with the Avalanche foundation for Luna and UST and based on terra’s Twitter Thread about the purchase it was A 50 50 split In a follow-up interview with Bloomberg Emin admitted that the Luna the Avalanche Foundation had received had Gone to zero and it had only managed to Cash out a portion of the UST it had Received because both the Luna and UST Logically came with a lengthy vesting Schedule For what it’s worth Avalanche explained On Twitter that the avex given to the Entities behind Terror comes with an Unlocked schedule of its own and it Doesn’t look like they’ve sold any avex Yet and Emin is under the impression That they won’t be selling anytime soon Avax also got a bit of a boost at the End of May when it was revealed that Avalanche had tabled a proposal for the Board ape Yacht Club’s apecoin ecosystem To create a subnet on Avalanche but Judging by the comments on the proposal It looks like it’s going to be an uphill Battle to put it mildly

When it comes to price action it’s clear To see that avax has taken a serious Beating over the last four months and The breaking point was terror’s Implosion which pushed avax much lower Than it would have otherwise gone It definitely doesn’t help that the rest Of the crypto Market has been in a slump Since November and if you watched my Recent video about when the crypto bear Market could end you’ll know we might See up to another two years of poor Price action for cryptos across the Board In addition to these depressing macro Factors around 25 million additional Avacs have entered circulation since the Start of the year which is consistent With avalanche’s aggressive vesting Schedule Now assuming an average avex price of Around 50 this means avex has seen up to 1.25 billion dollars of cell pressure Over the last few months Now I’m also certain that there’s been Other significant cell pressure and That’s simply because there’s been no Shortage of news from Avalanche about Stuff like Acquisitions and Investments Over the last year or so Recall that Avalanche has an ongoing Defy incentive program worth 180 million Dollars worth of avex and the recently Announced 290 million dollar Multiverse

Incentive program is likewise probably Being funded by sales of avacs so yeah Lots of cell pressure This is why it’s amazing to see that Avax has held up so well in the face of Said cell pressure and this is a Consequence of the consistent demand is A scene from retail users and Institutional investors alike To put things into perspective the Number of unique Wallets on avalanche’s C chain has increased by 50 in the last Four months alone and the number of Daily transactions on the C chain were In a strong uptrend until very recently Speaking of which we couldn’t figure out What caused the sudden drop-off in Daily Transactions as it occurred almost a Week after Terror had imploded my best Guess is the ongoing launches of Avalanche’s subnets which have taken Transaction traffic away from the sea Chain which is to all intents and Purposes avalanche’s primary chain The fact that avax isn’t required to pay For transaction fees on Avalanche Subnets could have a negative effect on Its future price action as it would Decrease the demand for avex but Emin Argues that demand for avacs coming from Subnet validators will suffice since They must stake 2 000 avacs each What’s funny is that this setup makes Avalanche’s economic architecture eerily

Similar to those of polkadot and Cosmos We recently compared those projects and You can find that video in the Description Anyways it’s quite possible that avax Could fall as low as 10 during this bear Market but with some luck we could see It reclaim that strong level of support Around the 40 range Whether avax reclaims this key support Level and goes beyond ultimately depends On avalanche’s upcoming milestones Although Avalanche apparently does have A road map an administrator for Avalanche’s official telegram told one Of the researchers here at the coin Bureau that the Avalanche roadmap is Internal Luckily additional Milestones can be Found among the many interviews and Weekly updates from Emin In a January interview Emin said that Avalanche plans to build a bridge to Every blockchain that has value Including private and permissioned Blockchains built by big businesses in That same interview Emin said that Avalanche governance will be a quote 2022 event so expect to see some Developments on that front in the coming Months In a weekly update in January Emin said That avalanche’s goals for 2022 and Beyond are to be the biggest blockchain

By total value locked create new kinds Of assets that have no competition have The largest number of daily active users And scale to 1 million transactions per Second with subnets In a February interview Emin said that The Avalanche team is working to Implement super pruning which will make It possible to reduce the size of the Avalanche blockchain so it remains Decentralized even as it continues to Grow If you don’t know why this is so Important be sure to check out my video About the fastest cryptocurrencies using Of course the link in the description in Another February interview Emin said Avalanche’s mission is to continue Tokenizing real world assets and if you Watched my previous Avalanche update You’ll know that I’d sense the project Had been straying from this original Path but I suppose that’s not the case In a March interview Emin said that Avalanche V2 is coming but didn’t give Any details about what features it will Include however he did say that Avalanche will soon offer initial film Offerings making it possible to Crowdfund movies and similar media Looking forward to that one for sure In a weekly update in April Emin said That the Avalanche team is working on Protocol bridging which will make it

Possible for all of avalanche’s subnets To become fully interoperable In a weekly update in May Emin said that Support for Native BTC via the Avalanche Bridge and the new Avalanche wallet were Both still on the way though he didn’t Provide any dates or deadlines What’s odd is that Avalanche seems to Have removed not only the roadmap page From its website but also removed the Avalanche Forum website itself This made it very difficult for us to Find additional Milestones it also Reminded me how Avalanche deleted the Website detailing avax’s tokenomics and How there is almost no information Available about that on avalanche’s Website either nor which wallets belong To the Avalanche Foundation or Ava labs So this brings me to the potential Concerns I have about Avalanche and my First concern is development If you’ve been keeping up with our Avalanche updates you’ll know that the Project has been consistently missing Deadlines for important Milestones while There does seem to be progress on that Front I find it insane that a project With so much post-ico funding hasn’t Managed to deliver on something like a New wallet for example especially since It’s badly needed as Avalanche doesn’t Have much wallet support To be fair it sounds like avalanche’s

New wallet is going to be suited for the Next generation and if it meets or even Exceeds the high expectations that have Been set it could be a game changer for The project and possibly the crypto Industry My second concern relates to Terror now Call me crazy but I think Avalanche was Hit a lot harder than Emin and others Are letting on Take a second to consider that the Avalanche Foundation literally lost Close to 200 million dollars That is not something you shrug off and Even Emin knows that it’s done lots of Damage to avalanche’s image and could Make avax less attractive to investors The fact that the entities behind Terror Still hold so much avax presents a real Risk to avax’s price action and if you Ask me they will start selling at some Point because the terror team is in the Process of getting a new blockchain off The ground and I think they could Struggle to get any institutional Backing My third concern ties into the second And that’s what Regulators might be Thinking about Avalanche given its Partnership with Terror enen had Mentioned in a few of his interviews and Weekly updates that he’s concerned about Regulations This suggests that The Regulators could

Potentially be sniffing around Avalanche I mean they may be interested to know Who made the decision to do a 200 Million dollar swap that eventually led To avex investors being harmed Let’s be frank Regulators are looking For whatever excuse they can find to Crack the whip so it’s safe to say that It’s going to be interesting to see what Comes out of avalanche over the next few Months but the fact of the matter is That the fundamentals haven’t changed That much These concerns are mostly or rather Hopefully temporary and once they’re Inevitably addressed I have no doubts That Avalanche will continue on its path Of success and if avax does drop down to That 10 level I may just load up on a Bit of crypto snow Avax actually happens to be one of the Cryptos I regret not adding to my Portfolio earlier and you can find out All about that using the link in the Description And that is all for today’s Avalanche Update if you found it helpful smash That like button to help me out Make sure to subscribe to the channel Too and don’t forget to Ping that Notification Bell If you’re looking for ways to maximize Your crypto gains during this bear Market the coin Bureau deals page can

Help with that If you want more from the coin bureau There’s a second Channel called coin Bureau Clips here on YouTube and a coin Bureau podcast available on the obvious Platforms you know Spotify and that I’m also active on Twitter Tick Tock and Instagram and give you my take on the Crypto Market from day to day on Telegram If you’re wondering what cryptos I Currently hold as part of my portfolio You can subscribe to My Weekly Newsletter to find out I even have a merch store where you can Find crypto themed hoodies and teas like These and more So you can find your way to all these Resources using the links in the Description as always thank you for Watching and I’ll see you all again very Soon this is Guy bidding you goodbye [Music]